La Salle seal the deal as Lonsdale acquires majority stake in Elite Electronic Systems
La Salle Corporate have the pleasure in announcing that our client; Elite Electronic Systems
, a market leading provider of electronic manufacturing systems, has completed a deal which sees private equity firm Lonsdale Capital Partners
take a majority stake in the firm.
Generating revenue of over £22m, Jonathan Balfour
and Neville Hale
have grown Elite to service a broad range of sectors including medical devices, secure communications, power generation and wearable technology. It manufactures highly-specialised products for its customers, including defibrillators, secure telecom systems used by government bodies, and athlete tracking devices used by leading sports teams including Barcelona FC and a number of NFL teams. Established in 1986, Elite is headquartered in Enniskillen, Co. Fermanagh in Northern Ireland, and employs approx. 215 people.
Jonathan and Neville, who acquired the business from Jonathan’s father in 2015, instructed La Salle to assist with their exit strategy plans.
La Salle Corporate Sales Director Matt Dillon
and his team identified a number of potential acquirers who showed great interest in Elite. During the process, it became evident that Lonsdale Capital Partners were the preferred investor. Elite had demonstrated excellent growth in a niche market along with an established management team driving the company forward – both key factors that Lonsdale were seeking for their next investment opportunity.
The synergy between the two companies was clear and subsequent negotiations were conducted smoothly towards a satisfactory conclusion for all parties.
Jonathan Balfour, Managing Director of Elite, said:
“I would like to thank Matt for his hard work throughout the process to achieve this result. He helped us through every step of the way explaining the requirements of the various parts of the process throughout. With his experience he was able to advise where potential issues could be avoided; for example with the need for excellent legal and accounting support. I would highly recommend Matt to anyone thinking of pursuing a similar strategy. We will remain good friends after the process".
“Elite offers highly-specialised manufacturing services for customers who depend upon first class service and reliability. We have always prioritised investment in new technologies and state of the art equipment to ensure that we are at forefront when it comes to enhancing manufacturing capabilities and meeting customer demands. This investment from Lonsdale gives us the additional firepower to take the business to the next level, as well as expand our capabilities in new industries and grow our customer base in both the UK and overseas.”
Andrew Chetwood, Director at Lonsdale Capital Partners, said:
“ Since 1986, Elite has successfully grown into a sophisticated electronic contract manufacturer delivering excellent quality services to a diversified customer base. Elite exemplifies the three key qualities that Lonsdale looks for in its investments: a company operating in a fast-growing niche; a strong market position; and a great management team. We are very excited by the opportunity to work with both Jonathan and Neville as the Company enters its next phase of growth.”
Matt Dillon, who led the La Salle team acting on behalf of Elite, added…
“It was a pleasure working with Jonathan & Neville from the outset. They are both true gentlemen and we were all delighted with the outcome. Lonsdale are the ideal partner for Elite and they were a delight to work with during the process. I wish them all the very best with the future of Elite.”
Read more about this deal in the following online articles:
BBC News online
https://www.bbc.co.uk/news/uk-northern-ireland-44771613
Unquote (subscription required) https://www.unquote.com/uk/official-record/3010797/lonsdale-acquires-elite-electronic-services
Real Deals https://realdeals.eu.com/news/2018/07/11/lonsdale-elite-electronic-services/
Europe Breaking News https://www.europebreakingnews.net/2018/07/equity-firm-invests-in-fermanagh-company/
Click Here to contact La Salle Corporate today regarding your company exit strategy options
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